Peculiarities of ayday lending legislation in Texas

A lot of payday lenders are available in Texas and you won’t experience any difficulties in finding one. However, not all of them provide such favorable conditions on payday loans as loansassist.net does. We can offer the loan which is most suitable to you. You just need to apply for it at our website. Your application will be approved instantly and the needed funds will be sent to your banking account within a day. You won’t have to wait for your next salary in order to make necessary purchases or to pay off the bills.

Payday lending business is legal in Texas and its legislation practically doesn’t from the laws established in other States. Although payday lending is allowed in the State, some restrictions aimed at protecting local borrowers are imposed on payday lenders.

Payday loans can be given for a period starting from 7 days and reaching 31 days. A customer is allowed to borrow a sum ranging from $100 to $350. The annual percentage rate amounts 48% in Texas. In addition, a financial fee of $10 can be implied to the State borrower.

You are not required to be a citizen of Texas in order to apply for a loan through loansassist.net. The company provides payday loans to all the residents of the USA. The application procedure is easy, quickly and convenient.

By choosing loansassist.net you can be approved for a payday loan within 24 hours. As soon as we transfer money to your personal account, it can be used by you. We don’t require you to tell the reason why you need the loan. When you withdraw the received loan, you can get rid of unexpected emergencies and resolve financial difficulties promptly.

There are some differences between conditions imposed on payday loans in Texas and in other American States. If a loan amount isn’t more than $30, every $5 taken should be charged with $1. Payday loans which exceed $30 and aren’t more than $100 are allowed to be accompanied by 1/10 of the loan amount. A fee making up $10 can be imposed to the loans which sum is above $100.

In addition to percentage rates payday lending companies of Texas can apply handling charges. Under the State legislative acts a handling charge per month equates $3.50. Payday loans amounting less than $35 are allowed to be charged with this fee. Loans which range from $35 to $70 are implied with $4. It also concerns the loans that are higher than $100.

Every payday lender operating in Texas should post a list with all financial fees at a noticeable place of the office. The lending contract is required to be concluded in written and to contain sum of the loan, name of the lender, lending period, and fees amount. It is also to be provided in the contract that a payday loan is given for a short period of time. Consequently, these loans will be of assistance to you in resolving unexpected problems with finances until your next payday when you are able to pay back the credit.

In accordance with the Texas legislation any division of a payday loan into two parts is strictly prohibited. A lot of lending companies are trying to do it in order to charge their customers with additional fees on one loan. A payday loan can be given for a term which isn’t more than one month and less than 7 days. One renewal of a loan is allowed per month. In fact, all new regulations passed in Texas are aimed at safeguarding the citizens of the State.

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